The biggest news and movers on the GBPEUR rate has been the politics and we are in for a couple of days of lots of political news that could easily move exchange rates. Firstly we get the latest views tomorrow from Theresa May on Brexit tomorrow which should be a market mover for the pound. Then Sunday we have the German election which should see Angela Merkel win but political outcomes have been anything but predictable in recent years.
With some analysts predicting that the Euro will strengthen on the back of a strong Merkel victory we could be in for a turbulent time with sterling rising tomorrow against the Euro and then falling sharply on the back of a Merkel victory. If you need to buy Euros with pounds making some plans around this possible trend is very much worthwhile since there could be some big swings up 2-3 cents in either direction.
Getting the best rates on buying currency is not only achieved through checking your exchange rate with multiple sources but also from make sure that you get the timing right. With so much potential movement on the exchange rate making plans in advance is a very wise move to avoid being caught out should there be a switch in sentiment that you have not bargained for.
Overall I expect that the pound will rise on the speech from Theresa May before slipping back on the German election result. This creates a very small window of opportunity for clients interested in buying or selling on the GBPEUR exchange rate. For more information at no cost or obligation please speak to me Jonathan by emailing firstname.lastname@example.org.
Thank you for reading and I look forward to hearing from you.